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That's many headache, and that's why VantageScore was introduced. It was revealed in 2006 and manufactured by the three major credit reporting agencies (TransUnion, Equifax and Experian) to aid provide a more consistent scoring model. VantageScore can doing all this through its predictive modeling, which incorporates a broader number of credit-related data to calculate your score. It typically looks back with the last two years, tying together your credit activity on the timeframe, nonetheless it can also return further than that.



This is extremely good news with customers who don't have a lot of a credit score built yet or that are working on rebuilding their credit. VantageScore even offers many other benefits, for instance an updated scale range that works well with many lenders' automated credit approval systems, and also different weights that impact your score greater than others.



Much on this depends upon your own personal credit history, but a majority of things, like collections accounts which might be paid completely, won't even factor into your calculation of the VantageScore. VantageScore weighs risks differently too. Payment History (extremely influential) - The number one predictor of risk for both FICO scores and VantageScores. Creditors utilize this calculation to look for the likelihood of you paying your financial troubles on time.